Indian Economy to touch USD 12 trillion in the next decade: Deven Choksey

Surat : Brace yourselves for lift-off, Indian economy is on a supersonic trajectory, set to double in size every four years, according to Deven Choksey, MD of DR Choksey FinServ.

Speaking at the “India’s GDP US $ 12 Trillion: Unfolding India Investing” seminar organised by the Southern Gujarat Chamber of Commerce and Industry (SGCCI), Choksey predicted India’s economy will touch 6-7 trillion US dollars in just four years, and then double again to a staggering 12 trillion US dollars by 2030 and beyond.

“India’s economic growth is a story of two halves,” Choksey declared. “From 1947 to 2014, it took us 67 years to reach 1 trillion US dollars. But in the last nine years, since 2014, we’ve quadrupled that to 4 trillion!”

This phenomenal growth, Choksey believes, is fueled by proactive government policies and rapid infrastructure development. “While other countries were struggling post-pandemic, India was attracting new investments,” he said, highlighting the forward-thinking budget presented in 2020, even as the world grappled with COVID-19’s initial shock.

The digital revolution also plays a starring role in this economic drama. “UPI has revolutionized how we transact,” Choksey noted. “People are connected directly, merchants are embracing digital payments, and even the Central Bank Digital Currency, E-Rupee, is paving the way for global B2B and B2C transactions.”

Looking ahead, Choksey sees immense potential beyond traditional sectors: “Crude oil, coal, gold, defense, and education are all ripe for explosive growth.” He also envisions a future where India becomes a global education hub, attracting foreign students with its revamped education policy and robust infrastructure.

Surat, India’s textile capital, also has a role to play: “Surat should capitalize on this boom,” Choksey urged. “Attracting foreign students is a fantastic opportunity, and with India’s economic ascent, the sky’s the limit!”